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The Request Aims to Expand the Operational Capacity of PPSA — The State-Owned Company That Manages Oil Exploration Contracts in the Pre-Salt.
For PPSA to face the challenges of the auctions for the surplus from the onerous assignment and sixth round of the pre-salt, the Ministry of Mines and Energy (MME) sent a letter to the Federal Budget Secretary, George Soares, asking for the release of R$ 50 million, on the eve of a resource release in the Budget. This Friday, 20, Petrobras began the sale of onshore fields from the Tucano Sul Cluster, in Bahia.
The request aims to expand the operational capacity of PPSA – the state-owned company that manages the oil exploration contracts in the pre-salt and commercializes the oil belonging to the Union.
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The MME argues that the mega-auction of oil will be held in November and states that without new money in the Budget, there will be “direct impact on public revenues of the Union, States, municipalities, and the Federal District.”
In the document, it states that PPSA is to receive R$ 109.85 million from already held oil auctions, but requests a smaller complement, of R$ 8.8 million, to enable a total transfer of at least R$ 50 million this year.
According to the ministry, the funds are necessary for the company to carry out its activities “fully” and also mentions the preparation for the oil area auction rounds planned for 2020 and 2021.
The request was made in the same note that asks for R$ 350 million for the Brazilian Nuclear Industries (INB), under the risk of running out of fuel for the Angra 1 and 2 plants, which supply consumers in Rio de Janeiro and São Paulo.
The economic team expects to hold a mega-auction in November for the exploration of the surpluses from the areas of the so-called onerous assignment, which were granted to Petrobras in 2010 for the exploration of up to five billion barrels of oil.
As the area proved to have greater potential, the government will now auction this surplus and expects to raise R$ 106 billion with the signing bonus as long as they offer a minimum participation of the Union in the oil surplus and at least 5%.
After the Union’s payment of a debt to Petrobras from the renegotiation of the 2010 contract, the government will share the resources with States and municipalities, in a distribution already approved by the Senate and awaiting approval from the Chamber.
With the approval of the MME, the ANP is authorized to publish the auction notice, starting the period for companies to express their interest in participating in the round until September 23.
On the 12th of this month, the notice for the 6th sharing round of the pre-salt was announced. The ANP will offer five areas in the pre-salt polygon of the Santos Basin (Aram, Bumerangue, Cruzeiro do Sul, and Southwest of Sagittarius) and Campos (North of Brava).
Petrobras will be the operator, with at least 30%, of Aram, Southwest of Sagittarius, and North of Brava, ensuring revenue of R$ 6.15 billion, which may reach R$ 7.85 billion with the contracting of all the areas.
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